earnings
confidence high
sentiment positive
materiality 0.85
Tenet Q2 Net Income $259M, Adj EPS $2.31; Raises FY 2024 EBITDA, FCF Outlook
TENET HEALTHCARE CORP
2024-Q2 EPS reported
$24.22
revenue$10,471,000,000
- Q2 net income $259M ($2.64 diluted EPS), up from $123M ($1.15) YoY; adjusted EPS $2.31.
- Consolidated Adjusted EBITDA $945M (+12.1% YoY); Ambulatory Care EBITDA $447M (+20.8%).
- New $1.5B share repurchase authorization; completed prior $1B program with 4.8M shares bought in H1 2024.
- FY 2024 Adjusted EBITDA guidance raised to $3.825-3.975B (+$300M); FCF outlook raised to $1.1-1.35B (+$150M).
- Same-hospital admissions up 5.2% vs Q2 2023; same-facility ambulatory surgical cases +0.2% with net rev/case +6.8%.